CHF/JPY Long-Term Trend: Bullish
Key Resistance Levels: 121.53, 122.54, 123.00
Key Support Levels: 120.58, 118.84, 117.76
The price on the higher time frame succeeded to break the strong resistance around the 120.58 USD mark where it posted an engulfing bullish pattern. This could lead to a further movement to the upside in the same direction of the main trend.
CHF/JPY Medium-Term Trend: Bullish
On the lower time frame, the price managed to break an expanding flag formation to the upside. A lower correction could be seen to the highlighted zone before a new impulsive wave to the upside toward the target profit.
Buy Limit Order @ 120.83
TP 1 @ 121.51
TP 2 @ 122.54
Stop Loss @ 120.54
Trade Safely 🙂